TICKER: TSX.V:VST
DESCRIPTION: Vast Exploration Inc. is an independent oil and gas company focused on the exploration and development of its principal asset, the Qara Dagh Block, in the Kurdistan region of Iraq. The Qara Dagh Block lies on trend with discoveries in the prolific Zagros Fold Belt, which contains the super-giant Kirkuk field.
The information provided below is based on the most recent information we have received from analysts, newsletters and other contributors to Streetwise Reports' The Gold Report or The Energy Report. We encourage you to visit the company's web site and call the company for more specifics on this company before you decide to invest.
"The seismic acquisition and geological work [in the Kurdistan Region in Northern Iraq] look very attractive. . .Vast Exploration is drilling its first well and we should know results over the next several weeks."
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Kevin Shaw, Wellington West Capital Markets
(08/11/10)
"VST Next Door to Recent Bazian and Sangaw North Oil Discoveries We believe proximity of Qara Dagh to Korea's (KNOC) resource potential of up to ~2.0+ Bbls gives VST a solid shot.
Qara Dagh Well No. 1 to enter 1st primary zone of interest in ~2 wks. All 'eyes' on the drill bit, as well ops, move into the Shiranish formation with up to seven targets in Cretaceous, Jurassic, Triassic formations."
Gavin Wylie, Scotia Capital Inc.
(07/16/10)
"The new terms under which Vast has settled its capacity-building payment requirement with the KRG is accretive to our NAV given what would have been a massively dilutive issuance of 60M shares. . .We remain mindful of Vast's tight cash position ($15.7M) and place a high probability of an equity raise this year. That said, given the size of the overall prize and potential early test results (primary catalyst) in August, we still view the risk-reward trade-off as attractive today."
The Gold Report Interview with Kevin Shaw (06/17/10)
"Vast just spud a well a few weeks ago. . .It's pretty exciting times for Vast right now. Vast has several large structures on their block in Kurdistan. Most of the blocks there are on trend with some of the major producing fields. . .Oil and gas has been hit over the last 12–14 months across four different horizons of interest. Whether it's in the Tertiary, Cretaceous, Jurassic or Triassic, there's a lot of hydrocarbon potential to change a company's stock price materially overnight.
Vast is currently drilling three large structures, all of which could easily be 100–350 million barrels. You could hit a 1 billion+ barrels-a-day find. . ."
Canaccord Capital, Morning Coffee
(06/17/10)
"On Monday, Vast provided a progress report on the Qara Dagh - 1 Exploration Well, Qara Dagh Block, in the Kurdistan Region of Iraq. The Qara Dagh Well was spudded on May 12, 2010 with a planned total depth (TD) of 3,600–4,000 meters. Following the setting of 20" surface casing at 686 meters, an 8-1/2" pilot hole is currently being drilled down to the 13-3/8" intermediate casing point. The decision to drill a pilot hole was based on the expected fracture nature of the shallow geological formations, and the ability to better control the drilling in a smaller size hole.
Currently, the well is drilling ahead at approximately 1,300 meters through the top boundary of the Cretaceous-age formations. The company believes there could be up to three potential reservoirs in the Cretaceous with the Shiranish formation being the uppermost prospective reservoir. During the past several days, drilling gas shows have been observed, which is an encouraging indication of hydrocarbons being present in the well bore. The well plan is to drill through the Shiranish formation and, upon positive indications, an open-hole DST test will be planned. Then the plan is to continue drilling to evaluate the prospectivity of the Kometan and Qamchuqa horizons in the Cretaceous. Drilling is expected to take an additional three months to complete and will target up to seven potential reservoirs in the Cretaceous, Jurassic and Triassic formations. Vast has a 37% interest in the Qara Dagh Block."
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